I quit watching the news and Feel Great!!!
March 31, 2008
Drinking coffee, this morning, which I am know to do, in large quantities, and (in exactly this order) waking up which arduously follows, I sit each morning, and flip between the multitude of news channels, and mainline the information from CNBC, CNN, Fox News, ESPN (for AZ sports fans, this is never good news) and start each day and the local news networks, force feeding me the information I thought I ‘need’ to be prepared for a day out in the real world. Trying to find some bright light for the world of Metro Phoenix Real Estate.
Most mornings bright and early, it’s just me and my loyal (I say this because he always agrees with me) Jack Russell Terrier, Riley, listening to the well dressed and perfectly coiffed news anchor’s report on the state of affairs, social , political and otherwise.
However, this morning, when I trudged to kitchen for coffee and sat in front of the television for my daily dose of must-have news, my shall we say, better half, was watching what I call a pseudo-news program like Today or Good Morning America. (and I might add she seemed to be happy)
I silently, (because I don’t talk until I have had my first cup of coffee) took the remote in turned to “My” news channels and we watched together for a few minutes until she stood up and said, ,I don’t know how you watch this stuff? It’s depressing! This is no way to start (or finish) a Day!! And I said, defiantly, “what do you mean??” (probably not the smartest question, because she told me what she meant) Listen to what we had watched and heard, – oil prices at Record Highs, Home prices Plummet, Foreclosures up, stock market drops 400 points, Inflation is up, economy is in a recession, McCain is bad for economy, Barak Obama is bad for economy, and Hilary is bad for economy, something about Brittany Spears and the Phoenix Suns lose again, … all in a span of 10 minutes.
Again, I was quiet (mostly due the coffee not having time to work) and thought for few minutes, asked Riley what he thought , he also was quiet, (probably had not had his coffee yet either) and realized that , yes, I can admit it (of course, not to her, and she doesn’t read my blog J ) that there may be something to these news channels seems to relish itself to try and quash any glimmer of good new; plenty of which I strongly believe we have plenty.
I just don’t need to hear about foreclosures, short sales, REO, bank owned real estate in the lovely towns around Phoenix like Mesa and Glendale.
So I made a commitment to Quit the morning news for 30 days and start the day with coffee (I am only so strong) and a walk and good talk with Riley. Stay tuned. I will let you know how it goes. But so far I feel great!
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Copyright © 2008 By James Wexler, All Rights Reserved. *Who’s the Fool*
Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.
Buy ( Real Estate ) Low - Sell High
March 30, 2008
You have all heard the investment phrase, ‘Buy Low Sell High’. 
However, how do you actually do that? at least when it comes to buying real estate as in East Valley (Maricopa County) Real Estate.
Let me tell you story which might help shed some light on this investing “ Holy Grail ”
“Finance 101 will often tell you that, “the best time to buy is when opportunities are created out of seller necessity. A couple I have worked with for some time, just bought a home straight out of a Builders Inventory (these days, builders have taken homes back from a buyer who could not qualify for a loan.) The original price on this home was more than $700K. They bought this brand large beautiful new home in a wonderful community of Peoria for $400K.
Now, this couple has bought this new build home low. Have they purchase at the lowest? My crystal ball has not worked as well as I would like. However, based upon their needs, wants and desires, they have bought “Low” and have a wonderful home to raise their family. How do they sell High? Well maybe the correct term is sell their real estate “Higher”.
Again, my home buying crystal ball is on the fritz. However, they have a very affordable 30-year fixed rate that they can comfortably afford and do not have plans to sell for many years to come. A historical outlook will suggest that their plans to live in this home for 5-7 years and possibly longer will give them an excellent chance to build equity, save on taxes, sell higher, and most importantly give their family a place to call home.
I would say that I have never seen so many great buying opportunities for the prudent, savvy, patient and credit-worthy real estate investor and/or new home buyer.
More and More these days, in Phoenix and the surrounding towns of Peoria, Tempe , and Fountain Hills to name a few great Arizona cities, Opportunities abound. You just have to know where to look.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Buy ( Real Estate ) Low - Sell High*
Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.
the Phoenix AZ Diamondbacks win the World Series!
March 29, 2008
Not my birthday, not Christmas, not Thanksgiving, , My Favorite day of the years is….Baseball’s ‘Official’ opening Day , Monday , Baseball Season is finally here, …
and in Phoenix we are enjoying beautiful weather.
Amongst my die hard brethren, of devoted fans to our American pastime, we have started a petition to make this a national holiday. What better excuse to skip work, go with your friends and family, enjoy one of what are remaining afternoon games, and enjoy hot dogs, peanuts , crackerjacks (what other time do you eat them and do they even sell them outside of Ballparks) and your favorite, ummh ‘beverage’….
Now, for my predictions,..
and no, the sun in Scottsdale has not gotten to me…..
in the American league, I mean you either love ‘em or hate’em and spending most of my life in Boston, you know where my heart lies… it doesn’t matter who wins, as long as the Yankees lose, … however, I will go with Cleveland, if only because they have one of the few bastions of political incorrectness , in their name Cleveland Indians and more importantly, it’s the home of Rock n Roll with the hall of fame in town
In the National league, now, it may sound biased, however, hear me out, reason stands to believe , that my hometown (Phoenix) Arizona - Diamondbacks are going to go undefeated and win the world series, I would explain, however, it may be condescending since it is conspicuously obvious, ….
Well maybe I am a little nuts, but … hey isn’t that what being a fan is all about …
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Copyright © 2008 By James Wexler, All Rights Reserved. *the Phoenix AZ Diamondbacks win the World Series!*
Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.
Valley Homes sold - $14,000,000 , Also, $8,200,000 and $4,100,000 - in 1 Week!!
March 28, 2008
Yes, you are reading correctly. …
in fact, throw in a couple of smaller Phoenix area home sales for $3,900,000 and another $3,800,000 and you have a total of $34,000,000 (that’s $34 Million) in just 6 homes alone.
This according to John McClean who researched this from the public tax records in Maricopa County , which includes, Phoenix, Scottsdale, and Paradise Valley)
Let’s face it, Arizona is still a wonderful place to live. Home values are cheap (when compared to many other resort destinations) and have been getting cheaper (down about 20% from highs). Interest rates are near historic lows. Stock market is volatile, inflation is high. Where else but real estate can you fix a payment for 30-years not rising against inflation. Not gold and oil and food commodities at all-time highs!
Granted, most home buyers , at least not in Phoenix, Scottsdale and the smaller area towns of the East Vally are not spending $14MM no less $4MM on a home. And yes, wealthy people typically are more affected by short-term drops in home values. However, Wall Street often refers to these larger buyers as ‘Smart money’ (again only time will tell). And these buyers have typically more resources to research and opportunities more negotiating power and more choices in real estate than you and I.
So when I see a successful attorney from out of state who spends $14MM in CASH!! on a Paradise Valley home. And a CEO of a major manufacturing corporation to pay $8.2MM on homes here in Scottsdale, it tell me that if their money is good enough to buy real estate now, today, in this market, then ,
With these types of sales in the town of Paradise Valley and Scottsdale, I have to consider that we may be at or near a bottom. Or at the very least , there are some truly great buying opportunities out there in the market.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Valley Homes sold - $14,000,000 , Also, $8,200,000 and $4,100,000 - in 1 Week!!*
Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.
5 Reasons why Bad News for real estate buyers is Good News!! (continued from yesterday)
March 27, 2008
For those who read yesterday’s Blog, about real estate pricing in the metro Phoenix, Tempe, Scottsdale area when I took a leap of faith of faith (or as some have suggested, forgotten how to read) when I was either bold or crazy enough to suggest that the S&P/Case-Schiller Report that announced home prices have plunged more than 10.7% as “Good News”!!
I am not retracting my belief just qualifying it as an assessment that the news was a case of the Glass Half-Full v. Half Empty. Here’s why ….
1) It’s a Buyer’s market – for the Half of every real estate transaction, the Buyer, opportunities are created for those who have the conviction to step in when value in home prices is in their sights and the patience for long-term growth which historically real estate has given
2) Lenders easing credit – the lower prices, offer less risk for lenders. Let’s face it, values are not going to $zero. Lower purchase prices, lower loan amounts, lower payments for borrowers, more upside in appreciation, than downside
3) Lower interest rates – how you finance a home, is often times more significant than what price you pay, 30-year fixed rates are hovering near all-time lows. You can lock in a fixed payment with a reduced price and reduced rates than seen in many many years, thus lower monthly payments for the same house 3-4 years ago.
4) Reduction in inventory – we need to get past these inventory levels and reduce the glut of homes on the market. Not until then, can home prices rise again. This will happen. However, not until prices are lower. This negative price drop is a positive for reduction in inventory. The statistics show we are clearly moving in this direction.
5) Consumer confidence - every day , at least in Metro Phoenix , we see negative news. Negative news, is negative water cooler talk. Misery loves company, etc… you fill in the cliché’ . With lower prices, we will see more sales , more happy buyers who feel they got that “Deal” they have been looking for. Happy consumers, good news, buyer spending, confidence in the housing and real estate sector will return.
Yes, if you are a seller, times are tough. However, be patient. Prices are starting to correct enough to stimulate buying. Lower prices, means more buying, more buying means less inventory (supply) . Less Supply, in simple economics, means more demand. Prices then go up. It’s almost that simple.
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Copyright © 2008 By James Wexler, All Rights Reserved. *5 Reasons why Bad News for real estate buyers is Good News!! (continued from yesterday)*
Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.
Good News!!! Real Estate prices fall a record in Phoenix area
March 26, 2008
Ok, ok, …. Maybe good news for the metro Phoenix area real estate and the housing market is pushing it a little. And I don’t at all want to sound happy or overjoyed as area residents in Scottsdale, Tempe and Desert Ridge home values, and people’s net worth slightly deteriorate.
However, after everyone catches their breath from this real estate and housing market news and looks a little deeper past this fright filled front page headline it may a little more easily digested as a case of “Glass Half-Full” versus “Half Empty”…. Here’s one man’s humble of Why!!
Take these 5 reasons. (stay tuned, I will go into detail of each tomorrow
1) It’s a Buyer’s market
2) Lenders easing credit
3) Lower interest rates
4) Reduction in inventory
5) Consumer confidence
Yes, this so called “good news” I am finding in what are agreeably are recent cloudy days, may be of little , (although these days, a little can be a lot), consolation for home sellers .
However, as I always say, Buyers dictate a market. And we need the above factors , all of which stimulate buyer’s to actually BUY!! Ultimately, reducing the glut of homes on the market will cause a follow through of rising home values.
Yes, residents of Tempe, Fountain Hills, Mesa, Peoria, and the area of Desert Ridge, and the golf communities of DC Ranch, this will happen, one day. I promise.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Good News!!! Real Estate prices fall a record in Phoenix area*
Contact James Wexler (480) 221-8080 for all your Real Estate needs.
Why Buy a Home Direct from a Phoenix Area New Home Builder in Today’s real estate Market
March 25, 2008
Today’s Phoenix and Scottsdale area new home buyers Stand Some GOOD NEWS for real estate!!!offer more reasons to buy direct from a New home builder than ever before. A wide variety of communities, location, location, location, modern floor plans, an practically unlimited choices of features, colors, fixtures and finishing’s, lot selection, modern safety and energy efficient standards, and invaluable Builder warranty offering an extended commitment to reliability, unique value opportunities and generally better profit in long-term appreciation, it is difficult to look past a new home for your American Dream.
Consider these 5 Important Reasons to buy a home from a new home builder in Arizona
1) Value – In today’s market, almost everything is negotiable. Many home builders, if you negotiate well, will often help contribute down payment and almost always money towards closing costs; thus saving you what can amount to a lot of money out of pocket. Further, they are more willing to negotiate pricing, as they have more flexibility in pricing than the resale home seller. Finally, happy community residents and satisfied customers are the best source of new sales for the builder who has many homes available in that neighborhood.
2) Modern Architecture – Build the Home that’s Right for you: Today’s New Home Builder, offers an array of modern floor plans that are sure to feel custom to each buyer, these plans are including large kitchens with huge family great room, more bathrooms, with steam showers, and jetted tubs, walk-in closets, his and her sinks, Guest Entrance/Casitas, pools, spas, putting greens, fireplaces, home offices, built-in plasma TVs & wonderful use of windows for natural lighting and often spectacular views
3) Choices - The dizzying amount of choices include and are no way limited to…exterior paint, stonework, windows, interior Paint colors, faux and textured, carpets, stone, floors or wood, variety of wood cabinets, stainless steel appliances, with larger capacity refrigerators, double ovens and 6 burner gas range, granite counters, tiled bathrooms, light fixtures, landscaping choices and solar heated pools, to name only a few of the countless choices making the process not only fun, but personal.
4) Spec Builds in Inventory – Discount price – no discount in product or value. If you can be a little more flexible in all of your specific desires. Many New Home Builders have some home in current Inventory. Either Buyers could not qualify or the Builder built as “Specs” , homes available for purchase immediately. These homes are often built 70-100% to completion; thus offering a few less choices. However, what you lack in choices, is often well made up for in pricing as these builders need to sell them more quickly as they are costly to keep each month.
5) Long-Term Appreciation - Think New Car Smell!Lets face it, who doesn’t like New vs. Used is as American as apple pie. Think, new car smell. And when it comes to resale, one of the first items looked at when comparing location, size and pricing, is Age of home and modern fixtures and finishings. If you compare equal homes, with equal amenities, the new home is more marketable, more sell-able and often demands more money.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Why Buy a Home Direct from a Phoenix Area New Home Builder in Today’s real estate Market*
Contact James Wexler (480) 221-8080 for all your Real Estate needs.
Can home buyers Stand Some GOOD NEWS for real estate!!!
March 24, 2008
Finally, some good news we have been waiting for in the National and Phoenix area Real Estate Market.
‘Sales of existing homes rising modestly for the first time in seven months and inventories falling, the National Association of Realtors reported today’
Sales have picked up for several reasons.
1) Lower home prices – yes, prices are going down, especially here in the west, and specifically, Phoenix, Scottsdale, Fountain Hills and other East Valley cities where we saw one of the biggest national drop. Inventories remain high. However, lower prices are creating buying opportunities which we haven’t seen in several years
2) Easing of interest rates – simple. Lower interest rates allow one to buy the same home with a more affordable monthly payment. Although, credit is a little more difficult to come by. Stricter lending terms, larger down payment requirements make the likelihood of future foreclosures less and a prolonged housing recession less likely
3) Buyer confidence is returning – Buyers dictate pricing. Period! Lower home prices and better interest rates make buyers more eager to dip a toe in what has been a scary real estate pool. Buying can have a positive effect on consumer and home buyer sentiment pushing this housing negativity further back in our rear view mirror.
Does that mean we have hit a bottom? Is the end in sight? Is it time to buy??
Inventory levels would indicate that we have some time to go. However, The Federal Reserve Chariman Ben Bernanke appears set to continue to lower interest rates. Federal lawmakers are committed to work with Government backed lending institutions (Fannie Mae , Freddie Mac ) to stimulate the Real Estate Market and banks are working with consumers to help keep them in their homes.
Don’t let the naysayers fool you. If it’s not the time, to buy, there is plenty to indicate, at least here in Maricopa County and the cities of Scottsdale to suggest we are very close.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Can home buyers Stand Some GOOD NEWS for real estate!!!*
Contact James Wexler (480) 221-8080
Don’t put your Real Estate Investing eggs in one basket!
March 23, 2008
Like me , I am sure everyone agrees that if they see one more chocolate bunny before next year, it will be too soon.
Yesterday, I mentioned a friend, who has made his fortune in real estate and teaches others his secrets.
Here are 3 of his real estate investing secrets explained.
1) Make sure that your primary residence is not an investment; it is primarily a place for your family to live. A home offers tax benefits. If financed correctly, it is a hedge against inflation (more on this another day soon) and can provide some long term capital appreciation; but an investment last. Thus you are less affected to short term fluctuations in the market.
2) A rental property must be rented or it can be a very expensive, thus not very profitable investment. He teaches people to own rental properties in places where there are young professionals, a college town, or in an apartment community where there is an on-site leasing and management office with a excellent “low vacancy” record. Some communities are even offering some form of rent guarantee. Don’t buy a large home, with a big mortgage, to rent to families. These can be difficult to rent, and costly if vacant.
3) Speculative real estate Investing has to be done prudently, with a different type of real estate than completed single family homes in your “backyard”. Commercial real estate (you don’t have to be rich) with tenants in a great place to start that will keep you diversified and offers income to pay for your monthly mortgage.
Real Estate can be enriching in more ways than one; but it must be done in a diversified manner and must be financed correctly or what goes up can come down much faster.
For real estate investments in Phoenix , Scottsdale, Tempe, Fountain Hills, and its surrounding Communities like Desert Ridge, and Desert Mountain please call.
————————————————————————————————-Copyright © 2008 By James Wexler, All Rights Reserved. *Don’t put your Phoenix Real Estate Investing eggs in one basket!*
Contact James Wexler (480) 221-8080 for Internet Marketing private Coaching and Consulting.
All I need to know about Real Estate Investing here in Phoenix, Scottsdale, and Tempe I learned from the Easter Bunny
March 22, 2008
Don’t put all your eggs in one basket! We have all heard this from our parents since we were young. However, when it comes to investing, especially in real estate, this could be one of the most important things we were taught.
Many real estate investors will buy their primary residence, a rental property or more, and even a “fix n flip” speculative home investment all within a small geographic radius. Investing 101 will tell you this can be a risky strategy. Of course, as the market rises, all things real estate prices rise with the tide. However, as we have seen lately, the opposite holds equally true.
A close friend of mine, who has made a fortune in real estate, in high-flying markets and has protected himself against losses in housing declines, reminds me every Easter (his favorite holiday , I might add) , “Don’t put all your eggs in one basket! “ when it comes to real estate; especially here in Phoenix, Scottsdale, Peoria, Tempe and Fountain Hills.
He offered these 3 tips and when I am done finding Easter eggs with my nephew Sam (once in a awhile, I will even let him find it before I grab it) …. I will explain in more detail tomorrow morning.
1) Make sure that your primary residence is not an investment
2) A rental property must be rented or it can be a very expensive
3) Speculative Investing has to be done prudently and not in your “backyard”.
Have a Safe and Happy Easter Weekend !!
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© 2008 By James Wexler, All Rights Reserved. *All I need to know about Real Estate Investing here in Phoenix, Scottsdale, and Tempe I learned from the Easter Bunny*
Contact James Wexler (480) 221-8080 for Internet Marketing Coaching and Consulting.
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